Bombardier reportedly in talks to sell business-jet unit to Textron

Workers apply a Rolls Royce decal to the engine of a Bombardier Global 6500 business jet at the Bombardier booth at the National Business Aviation Association exhibition in Las Vegas on Oct. 21, 2019.Bombardier Inc is in talks to sell its business-jet unit to U.S. maker of Cessna jets, Textron Inc, the Wall Street Journal reported, citing people familiar with the matter.

Bombardier’s shares have plunged more than 30 per cent so far this year. On Jan. 16, company flagged a 2019 profit warning, citing problematic rail contracts, as well as warned of a potential write down in the value of a plane partnership with Europe’s planemaker Airbus.Bombardier declined comment on the WSJ report, but a source familiar with the company’s thinking told Reuters it was holding talks over both rail and aviation assets to keep all its options open.

globebusiness No more aerospace for Quebec province....Mitsubishi (JPN) , Airbus(UE) and now Cessna textron (US) . polqc, good job !! . Good job Canada !

RunwayGirl globebusiness Wow!!!!

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Source: nationalpost - 🏆 10. / 80 Read more »